JPMorgan Chase & Co. Trims Holdings in Kanzhun Limited (NASDAQ:BZ)

JPMorgan Chase & Co. lowered its stake in shares of Kanzhun Limited (NASDAQ:BZ) by 17.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,698,129 shares of the company’s stock after selling 2,474,364 shares during the period. JPMorgan Chase & Co. owned 3.07% of Kanzhun worth $161,434,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in Kanzhun by 107.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock valued at $41,000 after acquiring an additional 1,542 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Kanzhun in the 4th quarter valued at $63,000. Virtu Financial LLC purchased a new position in shares of Kanzhun during the 4th quarter worth $162,000. Wolverine Trading LLC acquired a new stake in shares of Kanzhun during the 3rd quarter worth about $263,000. Finally, Quantbot Technologies LP purchased a new stake in Kanzhun in the 4th quarter valued at about $306,000. 60.67% of the stock is owned by institutional investors and hedge funds.

Kanzhun Stock Down 0.6 %

NASDAQ:BZ opened at $19.06 on Wednesday. Kanzhun Limited has a 52 week low of $10.57 and a 52 week high of $22.74. The company has a fifty day simple moving average of $16.93 and a two-hundred day simple moving average of $15.33. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 42.36 and a beta of 0.46.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BZ shares. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $18.00 target price on shares of Kanzhun in a research note on Wednesday, March 12th. Barclays lifted their target price on shares of Kanzhun from $16.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.71.

Kanzhun Company Profile

Kanzhun Limited, together with its subsidiaries, provides online recruitment services in the People's Republic of China. The company offers its recruitment services through a mobile app under the BOSS Zhipin brand name. Its services allow enterprise customers to access and interact with job seekers and manage their recruitment process.